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American Suzuki will end U.S. auto sales, files for Chapter 11 bankruptcy protection

It appears that American Suzuki Motor Corp. is not so lucky in the United States as the manufacturer, whose U.S. demand plunged while the rest of the manufacturers climbed back from recession, announced that it will end its “love story” in USA. Moreover, American Suzuki filed for Chapter 11 bankruptcy protection.

In an official statement, Suzuki said that it will continue its motorcycle and marine engine businesses and will also continue to honor its auto customers’ warranties. Japanese parent Suzuki Motor Corp added that the company is not seeking protection from creditors. In order to explain its move, Suzuki said that it "has exhausted all available means to reduce the cost of operating the Automotive Division for it to operate profitably."

Furthermore, Suzuki said that some of the changes that made it take this decision were "unfavorable foreign exchange rates, disproportionally high and increasing costs associated with meeting more stringent state and federal automotive regulatory requirements unique to the continental U.S. market, low sales volumes, a limited number of models in its line-up, and existing and potential litigation costs."

Read the entire article American Suzuki will end U.S. auto sales, files for Chapter 11 bankruptcy protection